EANS-Adhoc: Intercell AG / Merger between Intercell and Vivalis planned to complete on May 28, 2013 - Relevant documents filed with the Commercial Court of Lyon

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Mergers - Acquisitions - Takeovers/Company Information
14.05.2013

Vienna (Austria), Nantes (France) May 14, 2013 - Intercell AG
(Intercell, VSE; "ICLL") and Vivalis SA (Vivalis, NYSE Euronext;
"VLS") today announced that the final administrative step for closing
of the proposed merger between the two companies to create Valneva SE
(Valneva) has been initiated by filing of the relevant documents with
the companies' register at the Commercial Court of Lyon. This step
follows the approval of the proposed merger by the extraordinary
general meetings of both companies, the issuance of the pre-merger
certificates by the French Commercial Register on April 3, 2013 and
by the Austrian Commercial Register on April 12, 2013, and the
issuance of the certificate of legality of the merger on April 17,
2013. Subject to the registration decision by the Court of Lyon, the
completion of the merger is expected for May 28, 2013 and will have
the following impact on shares and trading:

Automatic exchange of Intercell shares

On the expected closing date May 28, 2013, Intercell shareholders
will receive 13 new ordinary shares and 13 new preferred shares of
Valneva for every 40 Intercell shares (ISIN AT0000612601) that they
own. The exchange of the shares will be executed automatically and
without costs for shareholders. Fractional entitlements of less than
one new Valneva share will be sold on the stock market and proceeds
will be credited to each shareholders account free of all charges.
Vivalis shares (ISIN FR0004056851) will not be affected by any share
exchange and continue to exist under the new name of Valneva. The
Valneva shares will be traded on both the NYSE Euronext Paris and the
Vienna Stock Exchange.

Share trading on the Vienna Stock Exchange

Intercell shares will be suspended from trading on the Vienna Stock
Exchange at close of business of May 21, 2013 in order to enable the
settlement of all orders before the exchange into Valneva ordinary
and preferred shares. Valneva ordinary shares (ISIN FR0004056851)
will start trading in the Prime Market segment of the Vienna Stock
Exchange on May 28, 2013 under the ticker symbol "VLA" and will
continue to be listed on the regulated market of NYSE Euronext in
Paris under the ticker symbol "VLS.PA". Valneva preferred shares
(ISIN FR0011472943) will start trading on May 28, 2013 on the
regulated market of NYSE Euronext in Paris under ticker symbol
"VLSpr.PA" and on the unregulated Third Market Segment of the Vienna
Stock Exchange under the ticker symbol "VLAP".

Further inquiry note:
Intercell AG
Nina Waibel
Corporate Communications
Tel. +43 1 20620-1222
communications@intercell.com

end of announcement euro adhoc
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issuer: Intercell AG
Campus Vienna Biocenter 3
A-1030 Wien
phone: +43 1 20620-0
FAX: +43 1 20620-800
mail: investors@intercell.com
WWW: www.intercell.com
sector: Biotechnology
ISIN: AT0000612601
indexes: ATX Prime
stockmarkets: official market: Wien
language: English